3669. Osceola National Bank (Osceola, IA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
6033
Charter Number
6033
Start Date
April 1, 1925*
Location
Osceola, Iowa (41.034, -93.765)

Metadata

Model
gpt-5-mini
Short Digest
0cddd329

Response Measures

Full suspension, Books examined

Other: Cashier committed suicide; bank examiner ordered closure; inability to raise funds noted.

Receivership Details

Depositor recovery rate
37.1%
Date receivership started
1925-04-22
Date receivership terminated
1928-12-31
OCC cause of failure
Governance
Share of assets assessed as good
40.4%
Share of assets assessed as doubtful
26.5%
Share of assets assessed as worthless
33.1%

Description

Newspaper accounts (Apr–May 1925) report a prolonged run/heavy withdrawals, federal examiner ordered the bank closed, and the cashier committed suicide after failing to raise funds. No reopening is mentioned; closure appears permanent.

Events (4)

1. November 27, 1901 Chartered
Source
historical_nic
2. April 1, 1925* Run
Cause
Bank Specific Adverse Info
Cause Details
Sustained heavy withdrawals and inability to raise funds to meet depositors; books examined revealing frozen securities and capital shortfall.
Measures
None reported besides attempted fundraising by cashier
Newspaper Excerpt
There been quite run on bank for time
Source
newspapers
3. April 18, 1925 Suspension
Cause
Government Action
Cause Details
National bank examiner ordered the institution closed after examining the books and finding inability to meet demands.
Newspaper Excerpt
federal examiner last night ordered close
Source
newspapers
4. April 22, 1925 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from Des Moines Tribune, April 18, 1925

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Article Text

OSCEOLA BAN CASHIER KILLS SELF IN PARK R. A. Downs Suicide After His Books Are Examined. Osceola, la., April A Downs, cashier of the Osceola National bank, killed himself last night in the city park. The bank did not open its doors There been quite run on bank for time and federal examiner last night ordered close. Mr. Downs spent yesterday try. ing to $11,000, but do meeting at the bank lasting until last evening, the home of Assistant Cashier Lon Williams, where he spent hour and then drove home He left afterward and his family becoming summoned help. night watch and sheriff spent the night searching for and this morning daylight his body found in the volver clutched right and bullet in his head. He 55 years old His wife and one student the university and the in the high school here, sur- Bank's Books Examined. federal bank examiner has several the books the bank He decided last night to close there being inability raise funds with which to meet de mands of bank depositors. The capital and about deposits. securities frozen. President Frank Friday at Murray said this morning that he was satisfied it would pay out very nearly. Faced Financial Disaster. He said Cashier Downs faced by financial disaster had turned over all his to meet demands, but impossible keep bank open President Friday Ayres, died suddenly month talking with Assistant Cashier Williams last night, Mr Williams. thought nothing of the time, recalls that Mr Downs in talking am thinking of suicide, at the time.


Article from The Daily Report, May 9, 1925

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Article Text

Cashier of Closed Iowa Bank Kills Himself A. cashier of the Osceola National Bank, shot and killed himself here after fruitless efforts to raise money with which to continue erations his bank. The tution was ordered closed recent by national bank examiner, following of several days.